Tripadvisor (TRIP) has unveiled a new annual subscription plan to take advantage of the recovery in the travel industry. Tripadvisor Plus is a new plan that will allow members to save money on travel.
At the price of $99 a year, Tripadvisor Plus members stand to enjoy savings of up to $350 per stay on several hotels worldwide. The plan will also grant users access to savings whenever they take car rides through Hertz (HTZGQ). Members will also receive a Five Star elite status on Hertz.
The unveiling of Tripadvisor Plus comes as the tourism industry is picking up steam in the aftermath of the COVID-19 pandemic. With the majority of people vaccinated in the U.S. planning to hit the roads for summer vacation, Tripadvisor stands to benefit. (See Tripadvisor stock chart on TipRanks)
“As a company, we’ve always believed that travel brings out the best in us, and if the last 15 months have taught us anything, we need it more than ever. That’s why we created Tripadvisor Plus — a program that helps members become better travelers by saving them money so they can get more out of every trip they take,” said Tripadvisor Brand Officer Lindsay Nelson.
Ascendiant analyst Edward Woo has reiterated a Buy rating on the stock but raised his price target to $54 from $50, implying 30.5% upside potential to current levels.
According to the analyst, Tripadvisor’s 2021 outlook has improved thanks to the vaccine rollouts and the bounce-back of the tourism industry.
Consensus among analysts is a Moderate Buy based on 5 Buys, 8 Holds, and 1 Sell. The average analyst TripAdvisor price target of $45.91 implies 10.95% upside potential to current levels.
TRIP scores 6 out of 10 on TipRanks’ Smart Score rating system, suggesting that the stock is likely to perform in line with market averages.
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